Victory Capital Management Inc. Lowers Stock Holdings in Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB)

Victory Capital Management Inc. lessened its position in Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB - Free Report) by 2.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 492,459 shares of the bank's stock after selling 9,941 shares during the quarter. Victory Capital Management Inc. owned approximately 1.04% of Bank of N.T. Butterfield & Son worth $19,167,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of NTB. Rovida Investment Management Ltd acquired a new position in Bank of N.T. Butterfield & Son during the 4th quarter worth $65,568,000. Norges Bank purchased a new position in shares of Bank of N.T. Butterfield & Son in the 4th quarter valued at about $5,700,000. Millennium Management LLC boosted its stake in shares of Bank of N.T. Butterfield & Son by 84.7% in the 4th quarter. Millennium Management LLC now owns 326,748 shares of the bank's stock valued at $11,943,000 after buying an additional 149,803 shares during the period. LSV Asset Management boosted its stake in shares of Bank of N.T. Butterfield & Son by 63.8% in the 4th quarter. LSV Asset Management now owns 347,499 shares of the bank's stock valued at $12,701,000 after buying an additional 135,399 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Bank of N.T. Butterfield & Son by 9.9% in the 4th quarter. American Century Companies Inc. now owns 1,142,830 shares of the bank's stock valued at $41,770,000 after buying an additional 103,339 shares during the period. Hedge funds and other institutional investors own 62.73% of the company's stock.

Bank of N.T. Butterfield & Son Stock Performance

Shares of NTB traded down $0.06 during midday trading on Friday, reaching $44.28. 123,285 shares of the stock were exchanged, compared to its average volume of 155,046. The business's 50-day moving average price is $43.98 and its 200 day moving average price is $40.27. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.65 and a quick ratio of 0.65. Bank of N.T. Butterfield & Son Limited has a twelve month low of $33.04 and a twelve month high of $46.89. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 9.19 and a beta of 0.64.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The bank reported $1.30 EPS for the quarter, topping analysts' consensus estimates of $1.03 by $0.27. Bank of N.T. Butterfield & Son had a return on equity of 21.30% and a net margin of 26.54%. The business had revenue of $148.20 million for the quarter, compared to analysts' expectations of $140.89 million. During the same quarter in the previous year, the firm earned $1.17 earnings per share. The business's revenue was up 3.8% compared to the same quarter last year. On average, sell-side analysts expect that Bank of N.T. Butterfield & Son Limited will post 4.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NTB. Keefe, Bruyette & Woods lifted their price objective on Bank of N.T. Butterfield & Son from $48.00 to $50.00 and gave the company a "market perform" rating in a research note on Friday, July 11th. Raymond James Financial restated an "outperform" rating and issued a $50.00 price target (up from $44.00) on shares of Bank of N.T. Butterfield & Son in a research note on Tuesday, July 8th. Finally, Wells Fargo & Company raised their price target on Bank of N.T. Butterfield & Son from $46.00 to $54.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th.

About Bank of N.T. Butterfield & Son

The Bank of N.T. Butterfield & Son Ltd. provides community banking and wealth management business. The firm operates through the following geographical segments: Bermuda, the Cayman Islands, Channel Islands and the UK, and Other. The Bermuda and Cayman segments offer retail banking and wealth management.